Oil Market

April 6, 1986|By Susan G. Strother

GUSHER. Oil prices fell through the $10-a-barrel mark on the European market last Thursday, but rebounded after Indonesia's oil minister said OPEC is likely to agree on production cuts to stabilize prices when it resumes talks in mid-April. Analysts said the dire economic consequences posed by $10- a-barrel oil has galvanized producers inside and outside the Organization of Petroleum Exporting Countries. Earlier in the week, Vice President George Bush said he would tell the government of Saudi Arabia on an upcoming Middle East trip that the price slide is hurting the U.S. oil industry.